28 pages. "[It is] important to understand how differences in glide path design may enhance or detract from expected retirement outcomes. This is particularly true in how the strategy handles risk management in its portfolio allocation and construction choices. Given the broad number of factors that go into securing retirement funding success, assessing a glide path's risks entails more than evaluating standard deviations and downside volatility alone. Instead, [this] analysis examines how different glide paths allocate risk capital and quantifies how these decisions may affect risk/reward trade-offs that could significantly shape participant outcomes."

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